Dean to Release New Budget

Professors will receive copies today of Dean of the Faculty Jeremy R. Knowles' budget letter, in which he will outline plans for the coming year and detail the Faculty of Arts and Sciences' financial situation.

In a Faculty meeting earlier this year, Knowles announced that the 1991-92 deficit, originally projected at $11.7 million, was $7.5 million.

In today's letter, the Dean will encourage faculty members to continue to scrimp on spending.

Knowles earlier this week released the breakdown of savings from Faculty budget cuts--the reason the deficit came in lower than projected.

Between 1991 and 1993, he said, over $10 million will be removed from Faculty expenditures.

The numbers indicate that economic conditions, not Faculty belttightening, led to much of the savings.

And many of the moves to save money, such as trimming staff size and refinancing loans, will be difficult to repeat.

The Faculty cut down its deficit through several measures:

* The loss of 50 administrative and support staff positions from 1991-1992, and a projected 20 more by 1993, will slash $2.5 million from the budget.

* Using lower interest rates to refinance the debt for Yard and other construction projects saved the Faculty $2 million.

* The faculty saved more than $2 million in departmental operating costs over the past three years. Henry Rosovsky, who was then acting dean of the Faculty, cut departmental operating budgets by six percent across the board in 1991. This academic year, the budgets will be held flat.

* Volume discounts for overnight mail, copying, vending and travel costs will have saved the Faculty $300,000.

* Scrutiny of construction and renovation budgets will save $300,000.

* The Faculty will also save money--Knowles would not specify an amount--by adjusting financial aid for inflation.